LOL.....Another example of you guys not being factual. You guys continue to repeat FALSE GOP talking points.
First of all, Obama's approval numbers are not very low. They are actually "OK". If Im not mistaking, BO's approval numbers are still higher than Reagan's at this point in his Presidency.
Second, the Dems did not force the banks to loan to people who could not afford it. This was/is one of the biggest lies told by the GOP. Heres the facts. The Community Reinvestment Act did not mandate banks give out loans to people who could not pay it back. The CRA did encourage banks to lend in under served communities. But it did not require any kind of wreckless lending practices. Also, only a small number of banks are regulated by the CRA. Banks that were covered by the CRA made up about 10% of sub-prime loans. These loans accounted for a VERY smal number of foreclosures during the foreclosure crisis.
The vast majority of sub-prime foreclosures, were loans made at banks who were not regulated by the CRA. In other words, the unregulated free market acconted for about 90% of the foreclosures, during the housing crisis.
Like I said, only when you guys decide to join us in reality, can we have real debate......
http://www.minneapolisfed.org/publications_papers/pub_display.cfm?id=4136 <scroll down to "CRA-related lending volume and distribution">
Re: Hmmm........
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